Coffee Day Enterprises, which runs Cafe Coffee Day, on Thursday said its board has approved raising Rs 150 crore through issuance of NCDs.

Coffee Day Enterprises, which runs Cafe Coffee Day, on Thursday said its board has approved raising Rs 150 crore through issuance of NCDs.

"The company at its board meeting held today...has inter-alia approved draft disclosure documents for issue of rated, unlisted, secured, redeemable, non-convertible debentures (NCDs) of Rs 150 crore on private placement basis," Coffee Day Enterprises said in a BSE filing.

The company said the amount raised will be used for replacing debt. The company's stock was trading 1.23 per cent higher at Rs 233.90 on BSE.